Healthcare revenue management and consultation firm in2itive Business Solutions partnered with Medical Recovery Services to develop and manage an exclusive patient estimator tool for hospitals and ambulatory surgery centers.
Here are five quick facts about the partnership:
1. The patient estimator tool is designed to collect patient payments before or at the time of service. The tool was unveiled this week and featured in a Becker's Hospital Review white paper.
2. The software is customized for each client with:
• Procedure costs
• Payment requirements
• Insurance contracts
• CPT codes
3. The estimator also includes auto-generated estimates for patients with payment breakdowns and timelines. "Upfront collections can be a real challenge if your center doesn't have a simple means of letting patients know exactly what their financial obligations are," said in2itive Business Solutions President Tracey Erbert in a news release.
4. The current costs of uncompensated care total more than $40 billion in America. Uncompensated care is absorbed by hospitals and surgery centers; the new tool is designed to address this issue and reduce uncompensated care with upfront collections.
5. The partnership makes sense, as both companies are looking to make an impact in the patient payment space. in2itive has worked with hospitals and ASCs for nearly 10 years and hopes the partnership with Medical Recovery Services will help provide a more robust revenue management solution.
"Medical Recovery Services is excited to partner with in2itive Business Solutions to bring this empowering tool to hospitals and surgery centers everywhere," said Medical Recover Services CEO Donald Tapella in a news release. "Without a doubt, the patient estimator tool will help business office leaders better manage the paradigm shift in patient sources."
More Articles on Surgery Centers:
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Here are five quick facts about the partnership:
1. The patient estimator tool is designed to collect patient payments before or at the time of service. The tool was unveiled this week and featured in a Becker's Hospital Review white paper.
2. The software is customized for each client with:
• Procedure costs
• Payment requirements
• Insurance contracts
• CPT codes
3. The estimator also includes auto-generated estimates for patients with payment breakdowns and timelines. "Upfront collections can be a real challenge if your center doesn't have a simple means of letting patients know exactly what their financial obligations are," said in2itive Business Solutions President Tracey Erbert in a news release.
4. The current costs of uncompensated care total more than $40 billion in America. Uncompensated care is absorbed by hospitals and surgery centers; the new tool is designed to address this issue and reduce uncompensated care with upfront collections.
5. The partnership makes sense, as both companies are looking to make an impact in the patient payment space. in2itive has worked with hospitals and ASCs for nearly 10 years and hopes the partnership with Medical Recovery Services will help provide a more robust revenue management solution.
"Medical Recovery Services is excited to partner with in2itive Business Solutions to bring this empowering tool to hospitals and surgery centers everywhere," said Medical Recover Services CEO Donald Tapella in a news release. "Without a doubt, the patient estimator tool will help business office leaders better manage the paradigm shift in patient sources."
More Articles on Surgery Centers:
100 ASC Administrators to Know
What Are ASC Success Indicators for the Future
3 ASCs With Robotic Orthopedics Technology